TaxTMI 
TaxTMI 
Dear Experts,
My query is regarding reporting of Taxable Value in Table 4 of ITC-04. If we send semi- finished Goods to job-worker, how will find out taxable value & gst rate of the same to report ?
Thanks,
Taxable value reporting in ITC-04
25 Oct 2021 
6 Replies 
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Taxable value reporting in ITC 04: use cost to semi finished stage; delivery challans need not state tax rate.
Reporting taxable value in Table 4 of ITC-04 for goods sent to a job-worker should be based on costs to bring goods to the semi finished stage; delivery challans need not state a tax rate since the movement is not a supply. Classification can affect valuation and rate, but an AAR decision cited found rates may match finished products, and minor errors in delivery challans are treated as procedural and revenue neutral. (AI Summary)
Reporting taxable value in Table 4 of ITC-04 for goods sent to a job-worker should be based on costs to bring goods to the semi finished stage; delivery challans need not state a tax rate since the movement is not a supply. Classification can affect valuation and rate, but an AAR decision cited found rates may match finished products, and minor errors in delivery challans are treated as procedural and revenue neutral. (AI Summary)